Congressional Research Service Reports - 834 Matching Results
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- Social Security: Raising or Eliminating the Taxable Earnings Base
- No Description Available.
- Social Security: Raising or Eliminating the Taxable Earnings Base
- No Description Available.
- Charitable Choice Provisions of H.R. 7
- H.R. 7, the Community Solutions Act, on July 19 won House passage without amendment by a vote of 233-198. The bill includes basic elements of President Bush’s faith-based initiatives: tax incentives for private giving–scaled back from original proposals (Title I)–and expansion of charitable choice (Title II). (Title III deals with individual development accounts.)
- Taxes to Finance Superfund
- Since its reauthorization in 1986 through December 31, 1995, the Hazardous Substance Superfund, which was first created in 1980, has been financed largely by the revenues generated from three excise taxes on petroleum and chemicals and a special income tax on corporations.
- PILT (Payments in Lieu of Taxes): Somewhat Simplified
- Under current federal law, local governments are compensated through various programs for losses to their tax bases due to the presence of most federally owned land. Some of these programs are run by specific agencies, and apply only to that agency's land. The most widely applicable program, while run by the Bureau of Land Management (BLM), applies to many types of federally owned land, and is called "Payments in Lieu of Taxes" or PILT. The level of payments is calculated under a complex formula.
- State Estate and Gift Tax Revenue
- No Description Available.
- State Revenue from Estate, Inheritance, and Gift Taxes
- No Description Available.
- Capital Gains and Securities Transactions Taxation in Japan: Fact Sheet
- This fact sheet provides information on the taxation of securities transactions and capital gains income in Japan at the national level.
- Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law
- This report contains an explanation of the major provisions of the Federal estate, gift, and generation-skipping transfer taxes. The discussion divides the Federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits.
- Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law
- This report contains an explanation of the major provisions of the Federal estate, gift, and generation-skipping transfer taxes. The discussion divides the Federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits.
- Comparison of 501(c )(3) and 501(c )(4) Organizations
- This paper briefly compares the differences between tax-exempt organizations described in Internal Revenue Code section 501(c)(3) and those described in section 501(c)(4). Although some organizations can qualify as either a 501(c)(3) or a 501(c)(4) organization, there are two outstanding differences between the two categories which may make one type of exemption more desirable than the other: deductibility of contributions and ability to lobby without significant limits.
- A History of Federal Estate, Gift, and Generation-Skipping Taxes
- In this report, the history of the federal transfer taxes, has been divided into four parts: (1) the federal death and gift taxes utilized in the period 1789 to 1915; (2) the development of the modern estate and gift taxes from 1916 through 1975; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phase out and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to protect the integrity of the income tax.
- The Flat Tax and Other Proposals: Effects on Housing
- Several proposals for major reform of the Federal income tax system, including replacement of the current tax with a new type of tax, have been introduced or considered in the 104th Congress. Among the most widely discussed are the flat tax, a value-added tax, a national sales tax, a proposal for a direct consumption tax (called the USA tax), and income tax reform. Most of these new taxes convert the tax base from an income to a consumption base, most eliminate deductions for mortgage interest and property taxes, and most flatten the rate structure--in some cases by adopting a single tax rate. While these tax revisions touch on all aspects of the economy, this paper focuses on the effects on housing.
- A History of Federal Estate, Gift, and Generation-Skipping Taxes
- In this report, the history of the federal transfer taxes, has been divided into four parts: (1) the federal death and gift taxes utilized in the period 1789 to 1915; (2) the development of the modern estate and gift taxes from 1916 through 1975; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phase out and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to protect the integrity of the income tax.
- Capital Gains Taxes: An Overview
- The capital gains tax has been a tax cut target since the 1986 Tax Reform Act treated capital gains as ordinary income. An argument for lower capital gains taxes is reduction of the lock-in effect. Some also believe that lower capital gains taxes will cost little compared to the benefits they bring and that lower taxes induce additional economic growth, although the magnitude of these potential effects is in some dispute. Others criticize lower capital gains taxes as benefitting higher income individuals and express concerns about the budget effects, particularly in future years. Another criticism of lower rates is the possible role of a larger capital gains tax differential in encouraging tax sheltering activities and adding complexity to the tax law.
- Effects of Flat Taxes and Other Proposals on Housing: An Overview
- Studies have estimated that some of these revisions would cause a decline in demand for houses and significant reduction in house prices--perhaps in excess of 15 percent. These studies, however, presumed a fixed supply of housing; even a limited supply response would greatly decrease predicted asset price effects. Supply response is likely to be large in the long run and not insignificant in the short run. Effects on housing demand might also be mitigated by increases in savings rates and lower interest rates. Thus, effects of the flat tax on housing prices are likely to be limited in the short run and very small in the long run. Rental housing demand, on the other hand, would be encouraged with a shift to a consumption tax base.
- IRS Reform: Innocent Spouse Rule
- Married couples filing joint tax returns are liable individually and as a couple for all taxes due on the return with a limited exemption for innocent spouses. This report discusses joint and several liability, which has been the subject of much criticism and calls for reform or elimination.
- Taxpayer Protections in the Proposed IRS Restructuring Act: Burden of Proof
- No Description Available.
- Excise Taxes on Alcohol, Tobacco, and Gasoline: History and Inflation Adjusted Rates
- This report provides inflation adjusted excise tax rates for alcohol, tobacco, and gasoline products. The base for computation is November 1951; the adjustments show what the tax rates would be if they had been increased to reflect inflation. All of the above cited commodities had rate increases effective for that date under the Revenue Act of 1951. Just as the Congress was prepared to lower excise tax rates because of peacetime conditions, plans had to be revised as a result of the start of the Korean War. Thus, the Revenue Act of 1951 was born out of revenue needs due to increased military expenditures.
- The Taxpayer Relief Act of 1997: An Overview
- No Description Available.
- The Level of Taxes in the United States, 1940-1997
- No Description Available.
- Super-Majority Voting Requirement for Tax Increases: An Overview of Proposals for a Constitutional Amendment
- No Description Available.
- Super-Majority Voting Requirement for Tax Increases: An Overview of Proposals for a Constitutional Amendment
- No Description Available.
- Super-Majority Voting Requirement for Tax Increases: An Overview of Proposals for a Constitutional Amendment
- No Description Available.
- A Tax Limitation Constitutional Amendment: Issues and Options Concerning a Super-Majority Requirement
- Proposals to limit the federal government’s authority to raise taxes have been made several times in recent years. Most frequently, these proposals call for limits on Congress’s ability to pass revenue measures. Typically, limitation proposals would allow increases in tax revenues only under one of two circumstances. First, tax revenues could increase under existing tax laws as a result of economic upturns. Alternatively, they could increase because of a new law, but only if it were passed by a super-majority (typically two-thirds or three-fifths). Questions about how such proposals might be applied in practice have not been clearly answered. Congress has previously considered such proposals in 1996, 1997, 1998, 1999, 2000, and 2001. In each case the proposal has failed to achieve the two-thirds majority necessary for passage. Most recently, the House considered H.J.Res. 96 on June 12, 2002. The measure failed to achieve the necessary two-thirds, 227-178. This report will be updated to reflect any further legislative actions on such proposals.
- A Tax Limitation Constitutional Amendment: Issues and Options Concerning a Super-Majority Requirement
- Proposals to limit the federal government’s authority to raise taxes have been made several times in recent years. Most frequently, these proposals call for limits on Congress’s ability to pass revenue measures. Typically, limitation proposals would allow increases in tax revenues only under one of two circumstances. First, tax revenues could increase under existing tax laws as a result of economic upturns. Alternatively, they could increase because of a new law, but only if it were passed by a super-majority (typically two-thirds or three-fifths). Questions about how such proposals might be applied in practice have not been clearly answered. Congress has previously considered such proposals in 1996, 1997, 1998, 1999, 2000, and 2001. In each case the proposal has failed to achieve the two-thirds majority necessary for passage. Most recently, the House considered H.J.Res. 96 on June 12, 2002. The measure failed to achieve the necessary two-thirds, 227-178. This report will be updated to reflect any further legislative actions on such proposals.
- Individual Capital Gains Income: Legislative History
- Since the enactment of the individual income tax in 1913, the appropriate taxation of capital gains income has been a perennial topic of debate in Congress. Almost immediately after the passage of the Revenue Act of 1913, legislative steps were initiated to change and modify the tax treatment of capital gains and losses. This report discusses different tax treatments and revenue acts since 1913. Updated June 29, 1998
- Marriage Penalty Tax Relief: The Gramm Amendment
- No Description Available.
- Tax Code Termination Act: A Fact Sheet
- No Description Available.
- Tax Issues: National Public Opinion
- No Description Available.
- Major Tax Issues in the 106th Congress: A Summary
- No Description Available.
- Major Tax Issues in the 106th Congress: A Summary
- Taxes have been a major focus of congressional attention during the first half of 2000. In part, Congress has returned to many of the issues it addressed last year. In August, 1999, Congress passed a set of tax cuts with the Taxpayer Refund and Relief Act (H.R. 2488; TRRA). However, President Clinton vetoed the bill, arguing that the cuts were too large (an estimated $792 billion over 10 years), would drain funds from Social Security surpluses, and would force reductions in domestic spending. Early in 2000, Congress signaled its intention of revisiting tax cuts with passage on April 13 of a fiscal year (FY) 2001 budget resolution (H.Con.Res. 290) calling for a 5-year tax cut of $175 billion.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 107th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.
- Major Tax Issues in the 108th Congress
- No Description Available.